Corporate Action: We Recommend Trade Me Shareholders Vote for the Apax Acquisition
We recommend Trade Me shareholders vote in favour of the acquisition of Trade Me by Apax Partners at the Scheme meeting on April 3, 2019. Specifically, the proposal involves the acquisition of Trade Me by Titan AcquisitionCo New Zealand Limited, a New Zealand company owned by the Apax IX Fund which is advised by private equity firm Apax Partners. The offer price of NZD 6.45 in cash implies a fiscal 2019 P/E multiple of 24 and is greater than both the independent adviser’s valuation range for Tra...Trade Me Group is a online marketplace and classified advertising platform that is engaged in the auctions and fixed price sales for new and used goods, as well as automotive, real estate and employment businesses. Co. is also engaged in the web businesses for accommodation, dating and group buying.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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